SOMBA K'E/YELLOWKNIFE - Several Yellowknife businesses took centre stage this week at the Akaitcho Business Development Corporation's annual business awards ceremony.

Marion Hutton, owner of Life Care Planning, accepts the Akaitcho Business Development Corporation's Excellence Award from director Jonas Sangris at the corporation's annual general meeting and awards banquet on Wednesday. - Guy Quenneville/NNSL photo

Yellowknife Glass Recyclers Co-operative Ltd., Bella Dance Academy, Life Care Planning and McKenna Funeral Services – all of whom have obtained financial or advisory services from the corporation – received awards for excellence in a ceremony held at the Prince of Wales Northern Heritage Centre on Wednesday.

The first business called up was Yellowknife Glass Recyclers, which received the Environmental Business of the Year award.

The co-operative most recently participated via live web-feed in a national workshop on the development and sustainability of co-operatives in Canada.

Life Care Planning, owned by Marion Hutton, received the corporation's Excellence Award.

Servicing Alberta, NWT and Nunavut, Life Care Planning provides rehabilitation consulting services to referrals from insurance companies like Peace Hills Insurance and Co-operators Insurance.

Early last week, the seven-year-old business moved into its first office on 47 Street.

A familiar face, Lina Ball, took home the Youth Business of the Year Award. Ball is owner of Bella Dance Academy, which opened a second studio on Old Airport Road earlier this year.

The dance academy currently boasts a roster of 12 teachers delivering 63 classes a week to 540 students ranging in age from three months to 66 years.

Ball has won a slew of awards from Akaitcho BDC, including 2009's Excellence Award.

Accepting the Business of the Year honour was Janice McKenna, owner of McKenna Funeral Services, which held the grand opening for Yellowknife's first full-service funeral home last week.

Hunt Construction Ltd., Cave's Contracting, Kaban Custom Renos and Finishing, Frostbyte Cafe, Ollerhead NWT Locksmithing Ltd. and Yellowknife Glass Recyclers were all cited for reaching their fifth year of operation.

That's no small feat, according to Bob McLeod, minister of Industry, Tourism and Investment, who was in attendance.

As he pointed out, the national average of businesses still operating after their first five years is approximately 20 per cent.

"The Akaitcho Business Development Corporation can boast that 44 per cent of its clients are still operating after their first five years," said McLeod.

"It's a pretty tough business to get into."

Also on hand to congratulate winners was Mayor Gord Van Tighem.

"To those of you who have reached your fifth birthday – way to go. Keep up the good work," said the mayor.

Sitting in the audience was the latest addition to Yellowknife's small business community, Ambar Naveed. Naveed recently started his new business, AJ Accounting and Management Services, after receiving some financial aid from the corporation.

Naveed said the pros and cons of starting a small business need to be weighed seriously.

"Working for yourself means somewhat less financial security. But on the other hand, it also gives you a sense of ownership," said Naveed.

It was another successful year for the corporation on the business financing front.

During the 2009-2010 fiscal year (ended March 31, 2010), Akaitcho BDC gave out $1.4 million in business assistance loans to 52 businesses in Yellowknife, Ndilo and Dettah – the same dollar amount as in the previous fiscal year.

"While signs of the recession remain apparent, the economic outlook for several sectors including mining, construction and transportation are significant in value," said Tanya Kasteel, a business analyst with the corporation. "We expect another busy year ahead, supported by low interest rates and numerous government capital projects."

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